The future of the paper money - page 274.

zodiac3011

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Quote from: umaOuma on November 28, 2015, 08:46:08 AM

Quote from: zodiac3011 on November 28, 2015, 08:33:28 AM

Quote from: tom555 on November 28, 2015, 08:29:29 AM

paper money will always exist,it never have ending,you know so many countries use paper money for payment.
but i also believe that sometime paper money will not popular again,but it just on a big country like US,and never end in small country.

In my opinion paper money will disappear one day but that day is still very far away. Imagine in the next 100 years people will use paper money? I don't think so. This will gradually become the reality and we should accept it

If it would take 100 years then I think we should not be worried about it at present, because I don't think we are gonna live that long Grin

and what you said is correct its not easy for paper money to disappear so easily as the market cap of paper is more and people have more faith in paper money.

Just pure speculative it can happen in 25 years! 50 years! We don't know actually. Technology is changing everyday, credit card is widely adopted or the least is ATM card, internet banking, paypal, cryptocurrency,... Everything is reducing the control of paper money

umaOuma

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Quote from: zodiac3011 on November 28, 2015, 08:33:28 AM

Quote from: tom555 on November 28, 2015, 08:29:29 AM

paper money will always exist,it never have ending,you know so many countries use paper money for payment.
but i also believe that sometime paper money will not popular again,but it just on a big country like US,and never end in small country.

In my opinion paper money will disappear one day but that day is still very far away. Imagine in the next 100 years people will use paper money? I don't think so. This will gradually become the reality and we should accept it

If it would take 100 years then I think we should not be worried about it at present, because I don't think we are gonna live that long Grin

and what you said is correct its not easy for paper money to disappear so easily as the market cap of paper is more and people have more faith in paper money.

zodiac3011

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Quote from: tom555 on November 28, 2015, 08:29:29 AM

paper money will always exist,it never have ending,you know so many countries use paper money for payment.
but i also believe that sometime paper money will not popular again,but it just on a big country like US,and never end in small country.

In my opinion paper money will disappear one day but that day is still very far away. Imagine in the next 100 years people will use paper money? I don't think so. This will gradually become the reality and we should accept it

tom555

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paper money will always exist,it never have ending,you know so many countries use paper money for payment.
but i also believe that sometime paper money will not popular again,but it just on a big country like US,and never end in small country.

bitart

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Vires in Numeris

Quote from: umaOuma on November 27, 2015, 06:47:40 PM

Quote from: bitart on November 27, 2015, 05:41:07 PM

Quote from: Mr. Forum on November 25, 2015, 12:51:20 AM

Paper money will not be completely banned. What will happen is the legalization of the digital money thus giving options to the people either to transact through the paper one or digital based. Digital currency and to be specific, bitcoins when accepted by a majority of countries as a official currency will mean that banks will have no option but cope up with the trend. As much as there are people who value digital money, there are those who will still be glued to paper money and thus it can not be scrapped away.

Also as long as you cannot use BTC at a merchant if your smartphone's battery is drained, paper money will exist. I usually pay for things with my fiat paypass card. But, there is always a few bank notes next to my bank card just in case there is some problem with the merchants' POS terminals or with the internet connection. So as long as someone solves the problem of paying offline with the BTCs, paper money will still exist.

Yes, there is no substitute for paper money in the coming years for sure, it may loose its popularity because of e-currencies like bitcoins and many other which would exist in future, but paper will stay in the market and cannot get simply disappear as the people have more faith in paper currency as compared to cryptos.

It's not only future e-currencies that can be a competitor for BTC. If you just think about shopping on a website and don't care about investing, BTC is really similar to paypal and the other e-money companies in the meaning of payment processing during a buying. People are using now Paypal and others, there will be no problem to get used to BTC as well.

ObscureBean

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Quote from: Huobi-USD on September 21, 2015, 02:23:32 AM

Andrew Haldane said one solution would be for the Bank of England to issue a state-backed digital currency based on bitcoin. Supporting this initiative would be a negative interest rate levied on paper currency relative to the digital currency

What exactly would be the point of this? Maybe I'm missing something but wouldn't it just be the same as regular money? If it did happen I very much doubt the Bank of England would allow people to use the currency anonymously. You can already use British Pound anywhere you want online, what would make this new digital currency a better alternative?

Qastessa

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I think bitcoin and paper money will coexist for long time. When there is a sudden loss of electricity or internet connection, paper money is useful.

umaOuma

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Quote from: bitart on November 27, 2015, 05:41:07 PM

Quote from: Mr. Forum on November 25, 2015, 12:51:20 AM

Paper money will not be completely banned. What will happen is the legalization of the digital money thus giving options to the people either to transact through the paper one or digital based. Digital currency and to be specific, bitcoins when accepted by a majority of countries as a official currency will mean that banks will have no option but cope up with the trend. As much as there are people who value digital money, there are those who will still be glued to paper money and thus it can not be scrapped away.

Also as long as you cannot use BTC at a merchant if your smartphone's battery is drained, paper money will exist. I usually pay for things with my fiat paypass card. But, there is always a few bank notes next to my bank card just in case there is some problem with the merchants' POS terminals or with the internet connection. So as long as someone solves the problem of paying offline with the BTCs, paper money will still exist.

Yes, there is no substitute for paper money in the coming years for sure, it may loose its popularity because of e-currencies like bitcoins and many other which would exist in future, but paper will stay in the market and cannot get simply disappear as the people have more faith in paper currency as compared to cryptos.

bitart

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Vires in Numeris

Quote from: Mr. Forum on November 25, 2015, 12:51:20 AM

Paper money will not be completely banned. What will happen is the legalization of the digital money thus giving options to the people either to transact through the paper one or digital based. Digital currency and to be specific, bitcoins when accepted by a majority of countries as a official currency will mean that banks will have no option but cope up with the trend. As much as there are people who value digital money, there are those who will still be glued to paper money and thus it can not be scrapped away.

Also as long as you cannot use BTC at a merchant if your smartphone's battery is drained, paper money will exist. I usually pay for things with my fiat paypass card. But, there is always a few bank notes next to my bank card just in case there is some problem with the merchants' POS terminals or with the internet connection. So as long as someone solves the problem of paying offline with the BTCs, paper money will still exist.

neochiny

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Crypto.games

Quote from: Digit-0 on November 21, 2015, 07:49:11 AM

Quote from: AsaroUk on November 18, 2015, 11:25:09 AM

It will take years and years for paper money to be banned and for digital currency to take over.

The risk of this will be hackers, there's a bunch out there and it's not completely save.

Believe me, there is more "hackers" working with paper money, fiat, than with digital currencies, from my point of view we will be more safe with crypto than with all those fiat guys....

Ofc new "ways" to do "the same" will come, but it will not be as worst as now with fiat money.

yeah after the majority of fiat money has been transferred into a crypto then the hacker will turn their attention
to crypto currency.

paper money is safer than crypto currency.

Mr. Forum

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Paper money will not be completely banned. What will happen is the legalization of the digital money thus giving options to the people either to transact through the paper one or digital based. Digital currency and to be specific, bitcoins when accepted by a majority of countries as a official currency will mean that banks will have no option but cope up with the trend. As much as there are people who value digital money, there are those who will still be glued to paper money and thus it can not be scrapped away.

Nunu

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Quote from: edward222 on September 21, 2015, 03:24:40 AM

Paper money will stay forever.
Why? Because its easier to make than coins.

yeah, paper money is easier to make than coins and lighter to carry, too. Cheesy

But paper money is easier to produce as fake money. They can't produce fake coins, can they? Huh

bitcoin-hunter

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It will dissapear eventually, there are just to many cons for it. The money involved to maintained being the best one.
But not within a few years. Most propably in a decade or so

Zaun

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Forza Roma

Nah, I don't see it dissapearing. Sure we got e-currencies, but that's all traceble. People who care about anonimity would want to stash it in somewhere.

Not just the criminals, but also regular people. Isn't it our right to manage and maintain our own money where and how we want?

blackmachinegun

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modern financial markets are behaviourally and structurally different to anything that was previously conceptualised. It would have seemed impossible previously to assert that central banks would ever need to take interest rates below zero, but we exist at a time where that is possible and many argue necessary. “Paying a negative interest rate on currency, or on electronic reserves at the central bank, may seem barbaric to some…” writes Rogoff, “But it is arguably no more barbaric than inflation, which similarly reduces the real purchasing power of currency.” With any paper money in circulation, and no deflation wiggle-room, it becomes close to impossible for bank rates to (in reality) breach zero.

this is i found from here http://thoughteconomics.com/the-end-of-paper-money/

blackmachinegun

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i hope papper money always exist until several years,i dont want if my child on future doesnt know what is papper money,and not feel happy when i give digital money Grin

but i think its never happen on some country,esspesially poor country..

zodiac3011

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Quote from: erickimani on November 22, 2015, 06:50:47 AM

the paper money will eventually disappear. this has been seen by the increase use of the credit cards, and the mobile money buying services. Nowadays the amount of paper money that is in circulation is very little and this is raising alarm. for the cryptocurrency, the governments are coming to terms with the fact that now power is returning to the people, they want to regulate this by producing their own cryptocurrency to counter the independent currency.At the end, the government always wins. this will mean that bitcoin will lose its value as people will be limited to use it.

With digital currency we don't know what will happen maybe all the salary one makes will be exchanged from the government's to bitcoin?

erickimani

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the paper money will eventually disappear. this has been seen by the increase use of the credit cards, and the mobile money buying services. Nowadays the amount of paper money that is in circulation is very little and this is raising alarm. for the cryptocurrency, the governments are coming to terms with the fact that now power is returning to the people, they want to regulate this by producing their own cryptocurrency to counter the independent currency.At the end, the government always wins. this will mean that bitcoin will lose its value as people will be limited to use it.

Amph

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Quote from: pitham1 on November 22, 2015, 03:32:30 AM

Quote from: Amph on November 22, 2015, 03:26:46 AM

Quote from: ruggedman_dan on November 21, 2015, 07:59:12 AM

I don't think paper money will be banned, I think each 'concept of money' can coexist with no problem.

it would be fun to have some government bannind them and other no, so you can always exchange for cash if you go abroad
i'm very in doubt that cash will be banned in every part of the world, there is heavy mafia running in some country, they will not let it happen...

If it is banned by a government, how will you exchange it for cash when you go abroad? That really doesn't make sense. Fiat money (paper or otherwise) derives its value only from the willingness of the government to accept it.

i think you did not followed what i've said, if in one country is banned you simply go where it is not and do a withdrawal on the local atm, and voila cash again, can only be used there though

pitham1

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Quote from: Amph on November 22, 2015, 03:26:46 AM

Quote from: ruggedman_dan on November 21, 2015, 07:59:12 AM

I don't think paper money will be banned, I think each 'concept of money' can coexist with no problem.

it would be fun to have some government bannind them and other no, so you can always exchange for cash if you go abroad
i'm very in doubt that cash will be banned in every part of the world, there is heavy mafia running in some country, they will not let it happen...

If it is banned by a government, how will you exchange it for cash when you go abroad? That really doesn't make sense. Fiat money (paper or otherwise) derives its value only from the willingness of the government to accept it.

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